With immediate effect, the changes build on previous tailor-made reforms. PFRDA, which oversees ₹15.78 lakh crore and 80 million subscribers, aims to reach 300 million by 2030. | Photo credit: iStockphoto
The Pension Fund Regulatory and Development Authority (PFRDA) will now allow private pension funds to invest in the top 250 stocks by market capitalization listed on the Indian stock exchanges. Previously, these funds were allowed to invest in a list of 200 stocks approved by the National Pension Scheme trust.
Access to raw materials
The PFRDA has also allowed investments in gold and silver ETFs, giving pension funds the opportunity to diversify into commodity investments.
The changes were announced in a circular on Wednesday and take effect immediately.
Expand pension reach
The revised investment standards are the latest in a series of measures aimed at increasing the popularity of pension funds by allowing the private sector to offer savers a wider range of options. Earlier, the regulator had allowed pension fund houses to offer customized schemes to different customer segments, based on their risk profile.
The private pension fund industry oversees ₹15.78 lakh crore ($175.59 billion) in assets, serving 80 million subscribers, with the regulator aiming to expand that subscriber base to nearly 300 million by 2030.
Published on December 11, 2025
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